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1402702
star this property registered interest false more like this
unstar this property date less than 2022-01-13more like thismore than 2022-01-13
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Mortgages: Regulation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what (a) correspondence and (b) other information his Department holds on the basis on which the Economic Secretary to the Treasury decided not to take forward the Financial Services Authority regulation of administering a regulated contract on 2 January 2013. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 103605 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2022-01-20more like thismore than 2022-01-20
star this property answer text <p>In January 2011, the Government announced its intention to introduce further regulation in relation to the sale of regulated mortgage contracts to unregulated firms. Following a review, the Government decided that it would not take forward legislation but would instead keep the position of contracts sold to unregulated firms under review and return to legislation if there was sufficient evidence of consumer detriment.</p><p> </p><p>The Government remains open to further regulation but is yet to see evidence that any consumer harm has occurred under the current regulatory regime that would have been prevented by the proposed regulation. Under the current regulatory regime, firms administering regulated mortgages, including third-party administrators, must be regulated. This means that they are subject to relevant provisions of the Financial Conduct Authority’s Mortgage Conduct of Business requirements, including provisions regarding the fair treatment of customers in arrears. It is also worth noting that further regulation of this kind would not necessarily enable borrowers to switch to a cheaper mortgage deal or to materially lower the interest rates they pay.</p>
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2022-01-20T12:03:45.057Zmore like thismore than 2022-01-20T12:03:45.057Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
1415759
star this property registered interest false more like this
unstar this property date less than 2022-01-24more like thismore than 2022-01-24
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Mortgages: Regulation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 January 2022 to Question 103605 on Financial Services Authority, on what specific information and reports the decision not take forward the legislation referred to in that Question was based. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 110470 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2022-01-31more like thismore than 2022-01-31
star this property answer text <p>The Government decided that it would not take forward legislation but would keep the position of contracts sold to unregulated firms under review and return to legislation if there was sufficient evidence of consumer detriment. This decision was reached based on careful consideration of the market conditions at the time, analysis of the available evidence of consumer harm and engagement with a range of stakeholders, including the Financial Services Authority (FSA) and Financial Ombudsman Service (FOS).</p><p> </p><p>The Government continues to keep the position of mortgage contracts sold to unregulated firms under review. All mortgages, regardless of the regulatory status of the owner, must be administered by a regulated administrator.</p><p>It is worth reiterating that further regulation of this kind would not necessarily enable borrowers to switch to a cheaper mortgage deal or lower the interest rates they pay.</p> more like this
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2022-01-31T14:25:22.617Zmore like thismore than 2022-01-31T14:25:22.617Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
1251837
star this property registered interest false more like this
unstar this property date less than 2020-11-12more like thismore than 2020-11-12
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Coronavirus Business Interruption Loan Scheme more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what progress has been made on implementing the rules governing the extension of the maximum loan term under the coronavirus business interruption loan scheme from six to 10 years. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 114957 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-11-17more like thismore than 2020-11-17
star this property answer text <p>As part of the Winter Economy Plan, the Chancellor announced a range of measures to extend and reinforce the support provided to businesses during this challenging time.</p><p> </p><p>The Chancellor announced Pay as you Grow options, providing greater flexibility to help Bounce Back Loan borrowers repay their loans on the terms which work best for them. In addition, we have since extended the application deadline for the Coronavirus Business Interruption Loan Scheme, the Coronavirus Large Business Interruption Loan Scheme, the Bounce Back Loan Scheme and the Future Fund until 31 January.</p><p> </p><p>The Chancellor also announced our intention to allow lenders to extend the repayment period for CBILS loans where this is needed up to 10 years. This is not a blanket extension of the term of CBILS loans. Rather, the change is to enable lenders to offer an extension of the term as forbearance where a borrower is in difficulty and could be helped by the extension. We are working to implement this change as soon as possible and will provide an update in due course.</p>
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-11-17T11:19:28.517Zmore like thismore than 2020-11-17T11:19:28.517Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
873567
star this property registered interest false more like this
unstar this property date less than 2018-03-28more like thismore than 2018-03-28
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Bank Services: Misrepresentation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, with reference to the Financial Conduct Authority's (FCA's) Final Notice on the mis-selling by Vanquis Bank of its repayment option plan, whether other banks are being investigated by the FCA for potentially mis-selling similar products. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 134681 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-04-18more like thismore than 2018-04-18
star this property answer text <p>This is an operational matter for the Financial Conduct Authority (FCA) as the regulator of consumer credit, who are operationally independent from Government. The questions have been passed on to the FCA.</p><p> </p><p>For legal and public interest reasons, the FCA do not generally disclose publicly whether or not they are taking action against a regulated firm, an insurer or an individual person.</p><p> </p><p>The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
134682 more like this
134683 more like this
134684 more like this
star this property question first answered
less than 2018-04-18T13:07:19.313Zmore like thismore than 2018-04-18T13:07:19.313Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
873568
star this property registered interest false more like this
unstar this property date less than 2018-03-28more like thismore than 2018-03-28
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Bank Services: Misrepresentation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, whether he is aware of any potential cases of banks mis-selling debt (a) waiver and (b) freeze products on a scale similar to that of Vanquis Bank. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 134682 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-04-18more like thismore than 2018-04-18
star this property answer text <p>This is an operational matter for the Financial Conduct Authority (FCA) as the regulator of consumer credit, who are operationally independent from Government. The questions have been passed on to the FCA.</p><p> </p><p>For legal and public interest reasons, the FCA do not generally disclose publicly whether or not they are taking action against a regulated firm, an insurer or an individual person.</p><p> </p><p>The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
134681 more like this
134683 more like this
134684 more like this
star this property question first answered
less than 2018-04-18T13:07:19.377Zmore like thismore than 2018-04-18T13:07:19.377Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
873569
star this property registered interest false more like this
unstar this property date less than 2018-03-28more like thismore than 2018-03-28
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Financial Services: Misrepresentation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, whether (a) he and (b) the Financial Conduct Authority plan to investigate the potential mis-selling of debt waiver or debt freeze products by other banks similar to those produced by Vanquis Bank. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 134683 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-04-18more like thismore than 2018-04-18
star this property answer text <p>This is an operational matter for the Financial Conduct Authority (FCA) as the regulator of consumer credit, who are operationally independent from Government. The questions have been passed on to the FCA.</p><p> </p><p>For legal and public interest reasons, the FCA do not generally disclose publicly whether or not they are taking action against a regulated firm, an insurer or an individual person.</p><p> </p><p>The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
134681 more like this
134682 more like this
134684 more like this
star this property question first answered
less than 2018-04-18T13:07:19.457Zmore like thismore than 2018-04-18T13:07:19.457Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
873570
star this property registered interest false more like this
unstar this property date less than 2018-03-28more like thismore than 2018-03-28
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Bank Services: Standards more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, with reference to the Financial Conduct Authority's Final Notice on Vanquis Bank, what assessment (a) he and (b) the FCA have made of the potential merits of updating the Financial Services Authority and Office of Fair Trading's 2013 joint guidance on the conduct of firms selling and administering payment protection products. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 134684 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-04-18more like thismore than 2018-04-18
star this property answer text <p>This is an operational matter for the Financial Conduct Authority (FCA) as the regulator of consumer credit, who are operationally independent from Government. The questions have been passed on to the FCA.</p><p> </p><p>For legal and public interest reasons, the FCA do not generally disclose publicly whether or not they are taking action against a regulated firm, an insurer or an individual person.</p><p> </p><p>The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
134681 more like this
134682 more like this
134683 more like this
star this property question first answered
less than 2018-04-18T13:07:19.533Zmore like thismore than 2018-04-18T13:07:19.533Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
1285738
star this property registered interest false more like this
unstar this property date less than 2021-02-10more like thismore than 2021-02-10
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Vulture Funds: Mortgages more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps his Department is taking to (a) ensure vulture funds treat customers fairly; and (b) prevent the creation of mortgage prisoners through the sale of loan books to unregulated entities. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 152579 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2021-02-22more like thismore than 2021-02-22
star this property answer text <p>The FCA have advised that borrowers with inactive lenders, such as UK Asset Resolution (UKAR), are no less protected, when the legal title holder is regulated, than those with active lenders. The Government is also open to extending the Financial Conduct Authority’s (FCA) regulatory perimeter, but is yet to see evidence to suggest that there are borrowers that are currently being harmed by the current regulatory regime and that would therefore be helped by extending the FCA’s remit.</p><p> </p><p>All sales of UKAR loans have included robust, non-negotiable protections to ensure the continued fair treatment of customers. These have included: adherence to the FCA’s Treating Customers Fairly (TCF) principles; its Mortgages and Home Finance: Conduct of Business (MCOB) rules; recourse to the Financial Ombudsman Service (FOS); and restrictions to the changes the buyer can make to standard variable rates (SVRs) for at least 12 months after the transfer of ownership. There have also been no changes to the terms and conditions of the loans which have been sold, and sales of UKAR loans have also not negatively impacted the ability of affected customers to re-mortgage elsewhere.</p><p>The Government has worked with the FCA to provide switching options for consumers with inactive lenders and will continue to support these customers where they would see genuine benefit from switching.</p>
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2021-02-22T10:01:30.547Zmore like thismore than 2021-02-22T10:01:30.547Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
923947
star this property registered interest false more like this
unstar this property date less than 2018-06-14more like thismore than 2018-06-14
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Credit: Misrepresentation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what estimate (a) his Department and (b) the Financial Conduct Authority has made of the number of people that were miss-sold PPI and separately (i) non-insurance debt waiver and (ii) freeze products. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 153886 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-06-19more like thismore than 2018-06-19
star this property answer text <p>The regulation of payment protection insurance (PPI) and debt freeze and waiver products is a matter for the Financial Conduct Authority (FCA). We have passed the Honourable Gentleman’s questions on to the FCA, who will reply directly to him by letter. A copy of the letter will be placed in the Library of the House.</p><p> </p><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery, including regular meetings with the FCA to discuss relevant regulatory issues.</p> more like this
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
153887 more like this
153888 more like this
153889 more like this
153890 more like this
star this property question first answered
less than 2018-06-19T14:28:46.257Zmore like thismore than 2018-06-19T14:28:46.257Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this
923948
star this property registered interest false more like this
unstar this property date less than 2018-06-14more like thismore than 2018-06-14
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Credit: Misrepresentation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what estimate (a) his Department and (b) the or the FCA has made of the amount of compensation been paid to people that were mis-sold both PPI and non-insurance debt waiver or debt freeze products. more like this
star this property tabling member constituency Thirsk and Malton more like this
star this property tabling member printed
Kevin Hollinrake remove filter
star this property uin 153887 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-06-19more like thismore than 2018-06-19
star this property answer text <p>The regulation of payment protection insurance (PPI) and debt freeze and waiver products is a matter for the Financial Conduct Authority (FCA). We have passed the Honourable Gentleman’s questions on to the FCA, who will reply directly to him by letter. A copy of the letter will be placed in the Library of the House.</p><p> </p><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery, including regular meetings with the FCA to discuss relevant regulatory issues.</p> more like this
unstar this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
153886 more like this
153888 more like this
153889 more like this
153890 more like this
star this property question first answered
less than 2018-06-19T14:28:46.32Zmore like thismore than 2018-06-19T14:28:46.32Z
unstar this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4474
unstar this property label Biography information for Kevin Hollinrake more like this